Astera Labs, Inc.
ALAB Technology Semiconductors
Astera Labs, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $852.5 million, up 115.1% from fiscal 2024. In the quarter to June 2026, revenue grew 104.5%, EPS grew 187.1% and free cash flow fell 49.6%, each against the same quarter a year earlier. Member of the Nasdaq 100; revenue growth for three consecutive years, operating cash flow growth for three.
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Astera Labs, Inc. (ALAB) Altman Z-score
Astera Labs, Inc.'s Altman Z-score for fiscal 2025 is 100.66, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 100.66 | (16.41) |
| FY2024 | 117.07 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.80 | — | 0.96 | |
| Retained earnings / total assets | 0.01 | — | 0.01 | |
| EBIT / total assets | 0.11 | — | 0.37 | |
| Market value of equity / total liabilities | 164.60 | — | 98.76 | |
| Sales / total assets | 0.56 | — | 0.56 | |
| Altman Z-score | Safe zone | 100.66 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 14.56 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| ALAB Astera Labs, Inc. | 101× |
| CRDO Credo Technology Group Holding Ltd. compare | 82.7× |
| MPWR Monolithic Power Systems, Inc. compare | 42.0× |
| ON ON Semiconductor Corporation compare | 4.6× |
| STM STMicroelectronics N.V. compare | 3.7× |
| MCHP Microchip Technology Incorporated compare | 3.7× |
| UMC United Microelectronics Corporation compare | 3.3× |
| NXPI NXP Semiconductors N.V. compare | 2.9× |
| ASX ASE Technology Holding Co., Ltd. compare | 2.5× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets